Why Microsoft Stock Rose 10% in August
Shares of Microsoft (NASDAQ: MSFT) rose 10% in August, according to data from S&P Global Market Intelligence. The cloud computing leader surged after Microsoft confirmed it was in talks to acquire the U.S. operations of TikTok -- the hit short-video social network from Chinese company ByteDance -- or even all of TikTok's non-Chinese operations.
That, combined with strong earnings from other technology and cloud companies, boosted sentiment for the sector, benefiting the leaders, including Microsoft.
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Source Fool.com
